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Stock Ratings / Financials / VNO / financials
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Vornado Realty Trust (VNO) Revenue-to-Profit Sankey Flow & SEC XBRL Financials

$33.87 -3.15% NYSE • Live Quote vs Prior Daily Close (Synced Snapshot) EXT / AFTER-HRS: $33.76

Vornado Realty Trust (VNO) earns a Roarable Rating of B- (Buy) with 70/100 RQD Confidence. High-quality cash engine (steady margins, 10% return on capital) with steady institutional support. The company’s underlying cash engine and institutional positioning keep the composite score in the Green Buy zone.

ROARABLE B- • BUY Cap $6.53B
📤 Share Live RQD Speedometer Card: 𝕏 Post Reddit StockTwits ⬇ Live SVG Card
⚡ INSTANT AI QUANT PREVIEW • $0 FREE TIER Click Any Pre-Computed AI Quant Specialist Briefing on VNO Below — or Connect Your Own ChatGPT / Claude
🤖 Mara Quenwick • AI Quant Lead (Click for Instant Brief) Is VNO stock a Buy, Hold, or Sell right now according to Roarable's RQD model?
▼

As of 2026-11-03, Vornado Realty Trust (NYSE: VNO) is rated B- (Buy / BUY) by Roarable's 5-pillar RQD engine with a composite confidence score of 70/100 at a spot price of $33.87 (-3.15% 1D, market cap $6.53B). Pillar breakdown: Fundamental Cash Engine 16/20, Institutional 13F & Options Flow 10/20, SEC Balance-Sheet Forensics 15/20, FRED Macro Regime Fit 12/20, and Executive Insider Alignment 17/20. Across 1097 tracked Financials issuers, VNO ranks #100 in composite RQD confidence.

✓ Pre-computed one-to-many AI Quant brief
🤖 Ellis Vennor • AI Peer & Flow Quant (Click for Instant Brief) How does VNO compare to HR and MAC in the Financials sector?
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Within the Financials sector (Real Estate Investment Trusts), VNO carries a Roarable B- (70/100 RQD), trailing P/E of 7.0x, gross margin of —, and ROIC of 10.3%. By comparison, HR (Healthcare Realty Trust Incorporated) holds a D+ grade (54/100 RQD, P/E N/A, ROIC -3.7%, cap $6.47B) and MAC (Macerich Company) posts a C- grade (59/100 RQD, P/E N/A, ROIC -4.1%, cap $7.04B). Among the 5-stock peer group, VNO leads on earnings multiple (7.0x) while VNO leads on capital efficiency (10.3% ROIC).

✓ Pre-computed one-to-many AI Quant brief
🤖 Gideon Ashmere • AI SEC 10-K Forensics (Click for Instant Brief) What are the biggest fundamental strengths and SEC risk factors for VNO?
▼

Per VNO's SEC EDGAR XBRL 10-K filing (FY2025, filed 2025-12-31, CIK 0000899689), Vornado Realty Trust generated $1.81B in revenue (+1.3% YoY), $937.0M in net income, and $1.18B in free cash flow against $15.52B in total assets and $3.92B in total debt. Key quantitative strengths: Strong cash generator (steady margins)—profits are backed by real money, not accounting tricks. Primary risk factors monitored: Broader market pullbacks can still drag down strong stocks in the short run. Institutional options positioning shows a 50% call / 50% put premium split.

✓ Pre-computed one-to-many AI Quant brief
🤖 AI Quant Disclosure: Roarable Analysts are proprietary AI Quant Specialists — not human financial advisors. Pre-computed one-to-many briefings above are free; interactive 1-on-1 Q&A, custom AI sifting/indicator alerts, and personal ChatGPT/Claude MCP connections require a $9.95/mo Pro account (currently waitlist-only).
INTERACTIVE SCENARIO DECK:
🛡️ Portfolio Crash X-Ray
EXT / AFTER-HRS: $33.76 (-0.33%)🧬 Cannibal Buyback (-2.64% YoY Shares)⚙️ Cash Engine: 16/20 (B+) • 65% FCF Margin
Verify 90D Bucket Audit →
📊 Historical Track Record: Scores of 70/100 (B-) historically ranked in the Top 15% of excess returns over the next 90 days (+6.6% avg 90D alpha vs SPY • 68.1% hit rate).
Audit Bucket Track Record →
RQD QUANT TACHOMETERBUY • B-
025507510070
2-of-3 Quant Analysts Bullish
Cash
SEC
Whale

Impersonal quantitative research (0–100 RQD rubric) — not individualized investment advice. Past performance does not guarantee future results. Full Disclaimer

5-PILLAR RQD RADARRw B · Rk C+
Cash (16)Whales (10)SEC (15)Macro (12)CEO (17)
Each axis scored 0–20
12M PRICE TARGET CONE+5.4% Base Target
$44 Bull$36 Base$28 Bear
📬 FREE VNO RATING-CHANGE & BRIEFING ALERTSManage / Unsubscribe
WHALE OPTIONS SNAPSHOT: — (No Active Options Snapshot on file for VNO)Realized 20D OHLCV Swing Band: ±6.2%
Deterministic 5-Pillar Attribution (70/100 Composite)
🔍 WHY VNO SCORES 70/100 (B-) — TOP 3 DRIVERS2 Bullish Pillars + #1 Risk Drag
▲ #1 Bullish Driver: Insider Conviction & Share Dilution+17/20 pts (24% of score)

SEC Form 4 / 13F Thermometer: 85% Net Buy • Cannibal Buyback (-2.64% YoY Shares)

▲ #2 Bullish Driver: Cash Engine Quality+16/20 pts (23% of score)

SEC XBRL FY 2025 (10-K): 65% FCF Margin ($1.18B FCF) & 52% Gross Margin

▼ #1 Drag / Risk Factor: Whale & Options Positioning10/20 pts (-10 pt drag)

Put hedging (50% put share) caps near-term gamma upside (-10 pts vs max)

📈 PAST 4 QUARTERS RQD vs SUBSEQUENT RETURNQ1 → Q2 → Q3 → Current
Q1 (-3Q)
62
Grade C+$33.23+3.3% Next Q
Q2 (-2Q)
65
Grade C+$34.34+2.5% Next Q
Q3 (-1Q)
67
Grade B-$35.19-3.8% Next Q
Current
70
Grade B-$33.87+6.6% Hist 90D α
Trajectory: C+ (62) → B- (70)Full Audit →
⚔️ ADVERSARIAL OPPOSING CASE & FORENSIC KILL-SWITCH (WHY THE BULL/BEAR THESIS COULD FAIL)GIDEON ASHMERE // FORENSIC SHORT & KILL-SWITCH DOSSIER

⚔️ Adversarial Opposing Case: Why the VNO Bull Thesis Could Fail

Gideon Ashmere Forensic Desk →

Even with a 70/100 (B-) score, VNO faces multiple-compression risk if 7.0x trailing P/E re-rate toward historical sector medians or if hyperscaler/enterprise customer concentration slows in upcoming 10-Q filings.

⚠️ Forensic Kill-Switch #1

Broader market pullbacks can still drag down strong stocks in the short run.

⚠️ Forensic Kill-Switch #2

Dilution & Margin Drag: Cannibal Buyback (-2.64% YoY Shares) — any gross margin slip below 49.5% triggers an automatic RQD downgrade.

⚠️ Forensic Kill-Switch #3

Technical & Forensic Kill-Switch: A daily close below the 50D SMA ($34.65) or 200D SMA ($33.39) invalidates the momentum regime and cuts Target Base ($35.70) toward Bear Floor ($27.77).

🎲 LIVE PREDICTION MARKET ODDS TIED TO $VNO• $2.4M Crowd Pool • Kalshi / Polymarket Composite
Contract: “VNO Beats Next Quarter EPS Consensus (Dec 30, 2026) & Holds Above 200D SMA”
YES 70%NO 30%Trade / Inspect Odds →
VISUAL REVENUE-TO-PROFIT SANKEY WATERFALL • FY 2025 (10-K)

How VNO Turns Every Dollar of Sales Into Real Bottom-Line Profit

Free Cash Flow:$1.18B (65% FCF Margin)
Revenue$1.81BGross Profit $941.4M (52%)Cost of Sales $869.0MOp Profit $941.4M (52%)OpEx (R&D/SG&A) $0Net Profit$937.0M (51.8%)Tax/Other $4.4M

Multi-Year SEC EDGAR XBRL Revenue, Net Profit & Free Cash Flow Trajectory

■ Revenue■ Net Profit■ Free Cash Flow
FY23
Rev $1.81B
FY24
Rev $1.79B
FY25
Rev $1.81B
Fiscal YearRevenueGross MarginOp MarginNet ProfitFree Cash FlowROIC %
FY 2025$1.81B52%61.1%$937.0M$1.18B9.6%
FY 2024$1.79B52%1.3%$20.0M$457.3M0.2%
FY 2023$1.81B52%2.1%$33.0M$566.6M1.4%
ON-DEMAND RQD QUANT WORKSHOP • SPONSORED / PARTNER SPOTLIGHTHosted by Perry Belcher & Roarable Forensic Quant Desk

Red-Light Warning Desk: Spotting SEC Cash-Flow & Dilution Risks Before Downgrades (Featuring VNO)

  • ✓Walkthrough of VNO's RQD Radar, SEC cash-conversion gap & downside invalidation levels
  • ✓3 asymmetric Bear/Hedge frameworks when 10-year Treasury yields stay elevated
  • ✓Includes nightly RQD rating-change & forensic signal email alerts on your tracked stocks
RQD INSIDER CLUB WAITLIST$49/YR PLANNED
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VNO // CANDLESTICK & AUTO-TRENDLINE WORKSTATION6M: +11.93%📐 WEDGE COMPRESSION COIL
2026-11-04O $34.55H $34.97L $33.87C $33.87VOL 1.25M
RES: $35.32SUP: $32.36SMA50: $34.65SMA200: $33.39
$42.59$38.49$34.40$30.30$26.21RES $35.32SUP $32.36$33.872026-05-052026-06-222026-08-062026-09-222026-11-04
PRIMARY-SOURCE FORENSICS, SECOND-ORDER LINKS & AI ANALYST DESK

VNO Dilution Monitor, Expectations Hurdle, Butterfly Connections & Policy Exposure

🦋 VNO Butterfly Map → + Track VNO →
Share Count & Dilution Monitor

Multi-year comparable XBRL diluted share count not disclosed (ETF or recent listing).

Reverse-DCF Expectations Hurdle
-8.0%/yr Implied 5Y Growth

vs. +1.3% actual YoY revenue growth (assuming 9.25% cost of equity & 16.5x terminal multiple).

Ellis Vennor Setup Ledger

No active Ellis Vennor swing setup published on VNO today. View full Setup Ledger →

🦋 Documented & Second-Order Butterfly Connections Open Graph →

No direct multi-tier Butterfly edges indexed yet for VNO. Explore sector supply chains on /butterfly.

AI Analyst Theses, Washington Policy & Company Video
🎬 No recent verified company-specific video clip queued for VNO today (we never pad ticker pages with unrelated generic clips). Browse Macro Video Desk →
DETERMINISTIC MULTI-FACTOR EQUITY AUDIT • SEC EDGAR XBRL × RQD PEER BENCHMARK

📊 Quantitative Sector Peer Comparison, SEC Filing Delta & Investment FAQ (VNO)

Financials Rank #100 of 1097 ⚔️ HR vs VNO Full Matrix →

1. Head-to-Head Financials Peer Comparison (VNO vs. HR, MAC, EPRT, RYN)

Industry: Real Estate Investment Trusts (172 Tracked Issuers)

Across 1097 tracked Financials securities in the Roarable RQD universe, Vornado Realty Trust (VNO) ranks #100 by composite RQD confidence (70/100, grade B-) and #235 by equity capitalization ($6.53B). Within this direct 5-issuer industry benchmark cohort, VNO leads on earnings valuation at 7.0x trailing P/E, while VNO leads on capital efficiency and profitability with 10.3% ROIC and — gross margin. VNO currently leads its immediate peer cohort in composite quantitative strength at 70/100 (B-).

Ticker / Company Roarable Grade RQD Score Trailing P/E Gross Margin ROIC 1D Change Market Cap Head-to-Head
VNO ACTIVE
Vornado Realty Trust
B- 70/100 7.0x — 10.3% -3.15% $6.53B Benchmark Subject
HR
Healthcare Realty Trust Incorporated
D+ 54/100 — — -3.7% +0.31% $6.47B /hr-vs-vno →
MAC
Macerich Company
C- 59/100 — — -4.1% -0.28% $7.04B /mac-vs-vno →
EPRT
Essential Properties Realty Trust Inc.
C 63/100 23.3x — 5.4% +0.18% $6.03B /eprt-vs-vno →
RYN
Rayonier Inc.
D 51/100 12.0x — 3.0% -2.73% $6.00B /ryn-vs-vno →

2. Multi-Year SEC XBRL Revenue, Cash Flow & Balance-Sheet Trajectory (FY2023–FY2025)

SEC EDGAR 10-K • FILED 2025-12-31 • CIK 0000899689 ↗

In its most recent audited fiscal period (FY2025, filed 2025-12-31), Vornado Realty Trust (VNO) reported GAAP revenue of $1.81B (+1.3% vs. FY2024 revenue of $1.79B , and -0.0% cumulative change since FY2023) , GAAP net income of $937.0M, operating cash flow of $1.26B, and free cash flow of $1.18B (+157.4% YoY). On the balance sheet, VNO closed FY2025 with $15.52B in total assets against $3.92B in total debt (Altman Z-Score: N/A, Piotroski F-Score: 8/9).

Fiscal Period Filing Date Revenue Net Income Operating Cash Flow Free Cash Flow Total Assets Total Debt
FY2025 (FY) 2025-12-31 $1.81B $937.0M $1.26B $1.18B $15.52B $3.92B
FY2024 (FY) 2024-12-31 $1.79B $20.0M $537.7M $457.3M $16.00B $4.42B
FY2023 (FY) 2023-12-31 $1.81B $33.0M $648.2M $566.6M $3.61B $845.6M

3. VNO Data-Verified Investor FAQ (RQD Rating, Sector Peers, SEC Forensics & Technicals)

✓ SCHEMA.ORG FAQPAGE JSON-LD ENABLED

Is VNO stock a Buy, Hold, or Sell right now according to Roarable's RQD model?

As of 2026-11-03, Vornado Realty Trust (NYSE: VNO) is rated B- (Buy / BUY) by Roarable's 5-pillar RQD engine with a composite confidence score of 70/100 at a spot price of $33.87 (-3.15% 1D, market cap $6.53B). Pillar breakdown: Fundamental Cash Engine 16/20, Institutional 13F & Options Flow 10/20, SEC Balance-Sheet Forensics 15/20, FRED Macro Regime Fit 12/20, and Executive Insider Alignment 17/20. Across 1097 tracked Financials issuers, VNO ranks #100 in composite RQD confidence.

How does VNO compare to HR and MAC in the Financials sector?

Within the Financials sector (Real Estate Investment Trusts), VNO carries a Roarable B- (70/100 RQD), trailing P/E of 7.0x, gross margin of —, and ROIC of 10.3%. By comparison, HR (Healthcare Realty Trust Incorporated) holds a D+ grade (54/100 RQD, P/E N/A, ROIC -3.7%, cap $6.47B) and MAC (Macerich Company) posts a C- grade (59/100 RQD, P/E N/A, ROIC -4.1%, cap $7.04B). Among the 5-stock peer group, VNO leads on earnings multiple (7.0x) while VNO leads on capital efficiency (10.3% ROIC).

What are the biggest fundamental strengths and SEC risk factors for VNO?

Per VNO's SEC EDGAR XBRL 10-K filing (FY2025, filed 2025-12-31, CIK 0000899689), Vornado Realty Trust generated $1.81B in revenue (+1.3% YoY), $937.0M in net income, and $1.18B in free cash flow against $15.52B in total assets and $3.92B in total debt. Key quantitative strengths: Strong cash generator (steady margins)—profits are backed by real money, not accounting tricks. Primary risk factors monitored: Broader market pullbacks can still drag down strong stocks in the short run. Institutional options positioning shows a 50% call / 50% put premium split.

Where is VNO trading relative to its 50-day, 200-day, and 52-week technical levels?

VNO last traded at $33.87 (-3.15% on volume of 3,678,831 shares), positioning the stock -2.25% below its 50-day simple moving average ($34.65) and +1.44% above its 200-day simple moving average ($33.39). Across its 52-week range of $24.57 to $41.60, VNO sits at the 54.6% percentile with a 14-day RSI of 54.3 (NEUTRAL RANGE) and an implied next-earnings move of ±6.2% ($31.77 to $35.97).

Direct Sub-Reports: VNO RQD Cockpit VNO 12M Forecast VNO Earnings & Move VNO Dividends & DRIP VNO Insiders & 13F VNO Whale Options VNO Profit Sankey VNO News & Why
ROARABLE RATING BRIEF • RQD 70/100 (B-) ✓ SEC XBRL & RQD VERIFIED

VNO — Vornado Realty Trust: What the Facts Mean to a Prospective Investor

Methodology: RQD v6.2 Deterministic 5-Pillar & SEC XBRL Audit
Updated: 2025-12-31

1. Roarable Rating Brief: What This Means to a Prospective Investor

Vornado Realty Trust (VNO) earns a live Roarable RQD composite score of 70/100, corresponding to a B- letter grade (Roarable Buy) at a spot price of $33.87 (-3.15% 1D, market capitalization $6.53B).

  • Fundamental Cash Engine (16/20): Anchored by return on invested capital (ROIC) of 10.3%, gross margin of —, operating margin of 63.1%, and free cash flow yield of 17.91%.
  • Whale 13F & Options Flow (10/20) + Insider Conviction (17/20): Tracks institutional 13F accumulation, CBOE options call/put positioning, and SEC Form 4 / Congressional PTR filings.
  • Macro Regime Fit (12/20) + Forensic Balance Sheet (15/20): Incorporates a 1.03x equity beta, Altman Z-Score of N/A, Piotroski F-Score of 8/9, and Debt/Equity of N/A.

2. Business Model, Unit Margins & SEC Financial Trajectory

Vornado Realty Trust is a NYSE-listed issuer in the Financials sector, operating in the Real Estate Investment Trusts industry, profile. Per the market data, the company reports an operating margin of 63.1% and a net margin of 51.8%. Revenue sources and the specific mechanics of how it earns income are not detailed in the source data beyond the sector and industry classification.

In its latest audited SEC EDGAR 10-K filing for FY2025 (filed 2025-12-31), Vornado Realty Trust (VNO) reported $1.81B in annual revenue (up from $1.79B in FY2024, +1.3% YoY) and $937.0M in GAAP net income. Over the multi-year SEC filing window from FY2023 ($1.81B revenue, $33.0M net income) through FY2025, VNO scaled operating cash flow to $1.26B and free cash flow to $1.18B, backed by $15.52B in total assets against $3.92B in total debt.

3. Institutional Bull vs. Bear Thesis & Valuation Tradeoff

  • 🐂 Primary Bull Case (B- • RQD 70/100): Strong cash generator (steady margins)—profits are backed by real money, not accounting tricks. Company leadership has skin in the game with net positive insider conviction. With Fundamental Cash Engine at 16/20 and Institutional Whale Flow at 10/20, sustained execution supports upside toward the upper end of the $24.57 – $41.60 52-week range.
  • 🐻 Primary Bear Case & Valuation Risk: Broader market pullbacks can still drag down strong stocks in the short run. Investors must weigh 7.0x trailing P/E and 7.7x EV/EBITDA against 63.1% operating margins and a 1.03x macro beta.

4. 2nd-Order Butterfly Ripples & Key Questions to Watch

Sector: Financials; industry: Real Estate Investment Trusts. Investors should note that the RQD macro pillar cites sector sensitivity (beta 1.

  • Key Question #1: Can VNO sustain or expand its 63.1% operating margin and 10.3% ROIC against Real Estate Investment Trusts peers over the next 4 quarters?
  • Key Question #2: Following FY2025 revenue of $1.81B and free cash flow of $1.18B, how will capital allocation balance growth reinvestment against $3.92B in total debt?
  • Key Question #3: How sensitive is VNO's 6.5x forward P/E multiple to Financials capital spending cycles and macro interest-rate shifts (Beta 1.03x)?

VNO Live News Feed, Press Releases & Catalyst Wire

Real-time company headlines, analyst actions, and sector developments for Vornado Realty Trust (VNO) • Click "Debate This Headline" to argue it in the Roar Pit below

💬 Jump to VNO Debate Forum (3) ↓
🔥 THE ROAR PIT • LIVE COMMUNITY DEBATE 3 Active Posts & Replies

VNO Bull vs. Bear Conversation Board — What's Your Call at $33.87?

🐂 67% BULLISH CONVICTION COMMUNITY TUG-OF-WAR ON VNO 🐻 33% BEARISH CONVICTION
1. Pick Your Side on VNO:
💡 Tip: Back up your call with a price target or RQD metric to get upvoted to the top.
DE DeltaGamma_99 RQD DEBATE OPENER • Options Flow Specialist 🐂 BULLISH 🎯 Target: $43.53 (+26.0%)
📌 Pinned Debate

Per the Roarable RQD rating, the 17.91% FCF yield and 10.3% ROIC anchor a 16/20 cash-engine score alongside an 8/9 Piotroski F-Score.

Long VNO at $34.55 targeting $43.53. Per the Roarable RQD rating, the 17.91% FCF yield and 10.3% ROIC anchor a 16/20 cash-engine score alongside an 8/9 Piotroski F-Score.. Institutional whale score is 10/20 and the risk/reward vs. the $24.57 52-week low is skewed heavily in favor of bulls.

RetailWhale_TX 🐂 BULL

@FadeTheHype Shorting a 10/20 institutional whale-flow stock at $34.55 is dangerous when funds are rotating into Financials.

FA FadeTheHype RQD DEBATE OPENER • Contrarian Tape Reader 🐻 BEARISH 🎯 Target: $29.02 (-16.0%)
Spot @ $34.55

Per the Roarable RQD rating, beta of 1.03 and the 12/20 macro-regime pillar show the stock is closely tied to broader market and sector

Here is the bear case nobody on the bull side wants to address on VNO: Per the Roarable RQD rating, beta of 1.03 and the 12/20 macro-regime pillar show the stock is closely tied to broader market and sector moves.. At 7.0x trailing P/E, even a small guidance miss in Real Estate Investment Trusts triggers a 12-15% air pocket.

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